Bill Ackman's investment firm Pershing Square Capital Management today revealed that they've started a new position in Hilton (HLT). Pershing now owns a 3.7% stake, or around 10.9 million HLT shares.
This isn't the first time Pershing has owned HLT shares in recent memory. They sold their previous stake in Q2 of 2017 after the company split itself up into a real estate company, an asset light management company, and a timeshare business.
This time around, they've bought HLT, which is just the asset light hotel management business. This year, HLT shares have dropped from a high of $87.62 to a low of $63.76 before slightly rebounding to current levels of around $67.
For more on this fund, we've also highlighted their Pershing Square's new position in Starbucks (SBUX) and thesis presentation.
Thursday, October 25, 2018
Pershing Square Starts Hilton Stake Again
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